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30 Life Lessons From Chinese Billionaire Jack Ma

30 Life Lessons From Chinese Billionaire Jack Ma

Have you ever felt discouraged when you consider your professional progress or financial state? Chinese billionaire Jack Ma has a few tokens of advice for you.

Ma is a Chinese internet entrepreneur who launched his first big endeavor, and many since, in the face of adversity or criticism. He was named Financial Times’ “2013 Person of the Year,” and is widely held as a symbol of the Chinese entrepreneurial spirit. While some of his insight may constitute a new approach more focused on the bottom line than others, there is no denying that his perspective is one that has proven staggeringly successful.

Ready to incorporate Ma’s approach into your management of professional and financial life? Copy those that resonate most with you on a notecard and post them on your computer, in your wallet, or at another location where you will see them regularly. You’re about to go on a wildly successful ride with Jack Ma.

1. Look far and wide for opportunity.

Ma categorizes those who fail as often being myopic to opportunity. Look across the professional and financial landscape with a broad lens first, considering all possibilities. Then, bend down to dig under every rock and in every nook and cranny for potential opportunities.

2. Treat every opportunity as an open door.

No chance is too small, too menial, or beneath you. When something lies before you, seize it. Grasp it with all of your strength, work this opportunity with all of your heart. Bring everything that you are to bear on this task. Do not treat anything as small if you want large results.

3. Seek understanding.

Work to understand both your current position and the position to which you aspire. What, exactly, are you working for? Why? What will it take to get you to where you want to go?

4. Act quickly.

Sometimes, the race does go to the swift. What most folks miss, however, is that being “swift” means bouncing back from failure, not necessarily running most quickly at all times. Acting swiftly can also mean being the first one out of the blocks when the gun goes off. When an opportunity presents itself, act.

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5. See beyond your circumstances.

No matter what your current condition, how or where you grew up, or what education or training you feel you lack, you can be successful in your chosen endeavor. It is spirit, fortitude, and hardiness that matter more than where you start.

6. Channel your ambition.

It is your job as a visionary to become single-minded in your ambition. Focus on your goal, work toward it, and never let it go.

7. Be courageous.

When Ma launched Alibaba Group, a highly successful group of internet businesses, he did so in the face of cautionary feedback from potential backers. There is a time for boldness, and in pursuit of your chosen ambition is that time.

8. Take chances in your youth.

If you are not rich by the time you are 35, says Ma, then you have wasted the opportunities of youth. Capitalize upon these young years, with their energy and imagination, by giving in to your ambition and the pursuit of it.

9. Unify your team toward a common goal.

You will never succeed in unifying every member of your team behind a single person. Ma estimates that 30% of people will always disagree with you.  Unite them behind an idea, cause, or mission, however, and you can harness the power of the team.

10. Make yourself replaceable.

Part of unifying behind an idea or mission is reducing dependency upon any particular individual, including the founder or lead boss. Cultivate the ideas, skills, and approach that you value in individuals you trust. When you move on, their leadership will ensure the continued success of that mission or idea.

11. Hire those with better technical skills than you possess.

If the boss has better technical skills than the employees, then they hired the wrong people. Workers should always be technical experts. Hire them, empower them, and let them do their jobs. They’re better at it than you are.

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12. Lead with vision, tenacity, and grit.

There are skills that are vital to successful leadership of any company or endeavor — vision, tenacity, and grit. A leader must be a visionary, able to see opportunity where others do not and acknowledge challenges before they come. A leader must be tenacious, be able to “hang in there” when a less determined individual would have long since given up. A leader must have grit, that ability to buckle down and do what is required in order to get the job before them, done.

13. Persevere.

Hard times will come. Challenges may be everywhere even at launch. Keep that founding vision in mind, and cling to it in rough waters as a lighthouse and guide. Your actions will inspire others to do the same.

14. Attitude is more important than capability.

It is your attitude that determines your altitude. Whether in smooth times or rough, successful leaders remain calm, confident in their mission, and focused on their desired outcome.

15. Savvy decision-making is more important than capability.

The most successful leaders are not always the smartest or the most qualified on paper. They do, however, surround themselves with extremely capable experts, turn to them for input, and make clear decisions. It is the decisions you make that will advance you and your endeavor forward one step at a time, not how qualified you are to move from square to square.

16. Money and political power cannot exist together.

Money and political power are mutually exclusive. One is the powder keg, the other, the match. Where both exist, an explosion will occur. If you are interested in both, pursue them consecutively, not concurrently.

17. Resilience is only understood after you have gone through hardship.

An intellectual understanding of resilience means nothing.  The capacity to be resilient means nothing.  It is only after having gone through hardships and having been tested, that an individual can be deemed “resilient.”

18. Your job is to be more diligent, hardworking, and ambitious than others.

There is a simple formula for success, every time. Be diligent. Work hard. Never lose sight of your ambition. Whatever form your endeavor takes, these principles hold true.

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19. Compete with grace.

If you treat your competitors as enemies, you will be seen as an enemy yourself. You will soon be surrounded. Instead, enter professional competition with grace, honoring your competitor and remembering that next time, the tide may turn another way.

20. Take all competitors seriously.

No competitor is a giant unless you make them one in your perspective. Treat all competitors with respect; treat your own business with respect. All have an equal chance of success when the competition begins. The one you overlook may be the one that beats you.

21. Behold yourself a giant.

Every large business started somewhere. Your business started somewhere. All deserve a seat at the table. Behold yourself equal to those you are competing with, and conduct yourself accordingly.

22. Winners do not whine.

While occasional poor spirits are to be expected, with the accompanying utterances of annoyance or dejection, regular whining is a sure sign of failure. All endeavors will bring hardships and challenges. How you deal with them will indicate the success of your business. Winners do not whine.

23. Customers are first; employees, second; shareholders, third.

As a leader, you only have a certain amount of time and energy. Give yours to those who enable your business, first — your customers. Those who make your business run come second — your employees. The shareholders are given attention and resources only after the first two have been satisfied. Many business owners spend all day, every day, catering to the shareholders. This resource allocation is not sustainable.

24. Forget about the money.

You did not launch your business or project solely for the money. You went down this path to build a particular lifestyle, or to meet a need of your soul and mind. If you focus on the money, you will make different decisions than if you focus on the journey. Walk the path you started down diligently, with ambition; the money will come.

25. Find the right people, not necessarily the best or most skilled people.

The most skilled people on paper are not necessarily the ones who fit best into your culture, or work best with you. The most efficient people on paper may not be those you trust most. Sparkling resumes do not mean that an individual can grow and evolve with your company. Find the right people, now. They are the best people. Their skills can be developed, as will yours.

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26. “Free” is a very expensive word.

When you give something away for “free,” you give away profits, as well as resources of manpower spent during development, implementation, and follow-up, and possibly intellectual property in the form of a great idea. Think carefully before you run such a promotion. Nothing is truly free.

27. A smart man uses his brain to “speak”…

The words that come from another’s mouth are not meaningful. Engage your mind. Utilize your intellect. Make decisions from an informed, grounded perspective.

28. … a wise man uses his heart.

Likewise, trust your intuition and your knowing. Making decisions from a place of faith can serve you exceptionally well, particularly with regard to personnel and when identifying strategic objectives.

29. We are born to enjoy life, not to spend it working.

The point of life is not to simply work, work, work, grinding away our bodies and our minds until we die. The focus should be on enjoyment, not only of your work but by creating time to play, relax, and enjoy those around you. If you work your life away, you will regret it — this is guaranteed.

30. Giving up is the greatest failure.

You will never know what you can achieve and accomplish, unless you try it. You will never know if your idea will “work” or if the business will produce, unless you stick with it. Adapt your ideas, change your strategies if you must, but never give up.

Craving more guidance? Check out these 5 Things The Richest Man in Asia Wants Young Entrepreneurs to Know.

Featured photo credit: epSos.de via flickr.com

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Last Updated on October 16, 2019

Invaluable Lessons You Can Learn From Your Mistakes

Invaluable Lessons You Can Learn From Your Mistakes

Do you like making mistakes?

I certainly don’t.

Making mistakes is inevitable. Wouldn’t it be wonderful if we could be at ease with them?

Perhaps there is a way to think of them differently and see their benefits.

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Why Mistakes Feel Dangerous

Mistakes often feel dangerous. Throughout human history, our errors have often been treated as dangerous for a variety of reasons:

  • Our vulnerability. We have limited and fragile support systems. When those systems fail, people often lose their lives.
  • Real dangers. Nature can be dangerous, and making mistakes can put us at the mercy of nature and its animal residents seeking a meal.
  • Ignorance. Many cultures scapegoats someone whenever there is a failure of some kind. Scapegoating can be serious and deadly.
  • Order. Many societies punish those who do not conform to the prevailing orthodoxy and treat difference and non-conformity as a mistake. Even our brains flash an error message whenever we go against prevailing social norms.

We have a history of handling mistakes and failure in an unpleasant way. Since each of us carries our human history with us, it can be a challenge to overcome the fear of making mistakes.

If we can embrace the reality of mistakes, we can free ourselves to be more creative in our lives and dig up some interesting insights.

Why We Can’t Avoid Making Mistakes

Many people operate under the notion that making mistakes is an aberration, a mistake if you will. You can call it perfectionism but it is a more substantial problem. It is really a demand for order and continuity.

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When we think we can eliminate mistakes, we are often working from a perspective that sees the world as a fixed place. The world, however, is not so obliging. Like it or not, the world, and everything in it, is constantly changing.

Change is more constant and pervasive than we can see with our own eyes which is why we often miss it. Our bodies are constantly changing. The natural conditions of the earth change constantly as well. Everything, including economic and cultural systems have life cycles. Everything is in a constant state of flux.

We cannot see all of the changes going on around us since rates of change vary. Unfortunately, when we try to create a feeling of certainty and solidity in our lives or operate from the illusion of stability and order, we are fighting reality and our natural evolution which is built on adapting to change.

It is better to continually bend into this reality rather than fight every change we experience. Fighting it can cause us to make more mistakes. Finding the benefits in change can be useful and help us minimize unnecessary mistakes.

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Lessons Learned from Making Mistakes

Life has so many uncertainties and variables that mistakes are inevitable. Fortunately, there are many things you can learn from making mistakes.

Here is a list of ways to harness the mistakes you make for your benefit.

  1. Point us to something we did not know.
  2. Reveal a nuance we missed.
  3. Deepen our knowledge.
  4. Tell us something about our skill levels.
  5. Help us see what matters and what does not.
  6. Inform us more about our values.
  7. Teach us more about others.
  8. Let us recognize changing circumstances.
  9. Show us when someone else has changed.
  10. Keep us connected to what works and what doesn’t work.
  11. Remind us of our humanity.
  12. Spur us to want to better work which helps us all.
  13. Promote compassion for ourselves and others.
  14. Teach us to value forgiveness.
  15. Help us to pace ourselves better.
  16. Invite us to better choices.
  17. Can teach us how to experiment.
  18. Can reveal a new insight.
  19. Can suggest new options we had not considered.
  20. Can serve as a warning.
  21. Show us hidden fault lines in our lives which can lead us to more productive arrangements.
  22. Point out structural problems in our lives.
  23. Prompt us to learn more about ourselves.
  24. Remind us how we are like others.
  25. Make us more humble.
  26. Help us rectify injustices in our lives.
  27. Show us where to create more balance in our lives.
  28. Tell us when the time to move on has occurred.
  29. Reveal where our passion is and where it is not.
  30. Expose our true feelings.
  31. Bring out problems in a relationship.
  32. Can be a red flag for our misjudgments.
  33. Point us in a more creative direction.
  34. Show us when we are not listening.
  35. Wake us up to our authentic selves.
  36. Can create distance with someone else.
  37. Slow us down when we need to.
  38. Can hasten change.
  39. Reveal our blind spots.
  40. Are the invisible made visible.

Reframe Reality to Handle Mistakes More Easily

The secret to handling mistakes is to:

  • Expect them as part of the process of growth and development.
  • Have an experimental mindset.
  • Think in evolutional rather than fixed terms.

When we accept change as the natural structure of the world, our vulnerability and humanness lets us work with the ebb and flow of life.

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When we recognize the inevitability of mistakes as part of the ongoing experiment which life is, then we can relax more. In doing so we may make fewer of them.

It also helps to keep in mind that trial and error is an organic natural way of living. It is how we have evolved over time. It is better to be with our natural evolution than to fight it and make life harder.

When we adopt an evolutional mindset and see ourselves as part of the ongoing human experiment, we can appreciate that all that has been built up over time which includes the many mistakes our ancestors have made over thousands of years. Each one of us today is a part of that human tradition of learning and experimenting,

Mistakes are part of the trial and error, experimental nature of life. The more you adopt the experimental, evolutional frame, the easier it becomes to handle mistakes.

Handling mistakes well can help you relax and enjoy all aspects of life more.

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Featured photo credit: Sarah Kilian via unsplash.com

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